Here's the press release:

FOSTER CITY, Calif., Oct. 18 /PRNewswire-FirstCall/ -- Sony Computer Entertainment America Inc. (SCEA) today announced plans to introduce a new 40GB model of its PLAYSTATION(R)3 (PS3(TM)) computer entertainment system. Beginning November 2nd, to further enhance the HD entertainment experience,
the new 40GB PS3 model will come bundled with the blockbuster movie Spider-Man(TM) 3 Blu-ray Disc(TM) (BD) from Sony Pictures Home Entertainment, and will be available in North America for a suggested retail price of $399 (USD/CND). The company also announced that effective immediately, the current
80GB PS3 model will be available in North America for $499 (USD/CND), $100 below the original launch price.

"We're pleased to offer the consumer a lower price point without sacrificing the core technology components that make PS3 the most advanced high-definition entertainment system available. Every PS3 comes with a Blu-ray drive, HDMI output, an integrated Wi-Fi connection, Cell Broadband
Engine and a built-in hard-drive," said Jack Tretton, President and CEO, SCEA. "This holiday season we'll be able to offer attractive retail pricing with a broad portfolio of outstanding games including Ratchet & Clank(R) Future: Tools of Destruction(TM), THE EYE OF JUDGMENT(TM), Uncharted: Drake's Fortune(TM), Heavenly Sword(TM), Call of Duty(R) 4: Modern Warfare, Assassin's Creed(TM), Haze(TM) and RockBand(TM)."

The new 40GB PS3 will no longer play PlayStation(R)2 titles, reflecting the availability of a more extensive line-up of PS3 specific titles. Consumers looking for backwards compatibility can take advantage of the limited PlayStation 2 backwards compatibility of the 80GB PS3.

PLAYSTATION(R)3 40GB Specification

Product name PLAYSTATION(R)3
CPU Cell Broadband Engine(TM) (Cell/B.E.)
GPU RSX(TM)
Sound Dolby 5.1ch, DTS 5.1ch , LPCM 7.1ch, AAC, others *1 *2
Memory 256MB XDR Main RAM, 256MB GDDR3 VRAM
HDD 2.5" Serial ATA 40GB
I/O USB 2.0 x2
Communication Ethernet X1 (10BASE-T, 100BASE-TX, 1000BASE-T)
IEEE 802.11 b/g Included
Bluetooth 2.0 Included (EDR)
Wireless controller (Bluetooth) Included
AV Output
Screen size 480i, 480p, 720p, 1080i, 1080p
HDMI OUT x1 *3
AV MULTI OUT x1
DIGITAL OUT x1 (OPTICAL)
BD/DVD/CD Maximum Read Speed BD 2x (BD-ROM)
Drive DVD 8x (DVD-ROM) (Read Only)
CD 24x (CD-ROM)
Dimensions Approximately 12.75in(W) x 3.86in (H) x 10.8in (D)
Weight Approximately 11 lbs

*1 A device compatible with Linear PCM 7.1 Ch. is required to output 7.1 Ch. audio, supported by Dolby TrueHD or a similar format, from the HDMI OUT connector.
*2 This system does not support output from the DTS-HD 7.1 Ch. DTS-HD 7.1 Ch. audio is output from a 5.1 or lower channel.
*3 "Deep Color" and "x.v.Color (xvYCC)" defined by HDMI ver1.3a are supported.

http://kotaku.com/gaming/north-ameri...ase-312267.php